Royal Bank of Canada Boosts The Descartes Systems Group (NASDAQ:DSGX) Price Target to $133.00

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price target upped by Royal Bank of Canada from $115.00 to $133.00 in a research note issued to investors on Friday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

Several other equities research analysts have also commented on the stock. National Bank Financial upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. Barclays upgraded shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $88.00 to $125.00 in a research report on Friday, November 15th. BMO Capital Markets lifted their price objective on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a report on Thursday, September 5th. Scotiabank upped their target price on The Descartes Systems Group from $104.00 to $120.00 and gave the company a “sector outperform” rating in a report on Thursday, October 24th. Finally, Canaccord Genuity Group set a $108.00 price target on The Descartes Systems Group and gave the company a “buy” rating in a research report on Thursday, September 5th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, The Descartes Systems Group presently has an average rating of “Moderate Buy” and an average target price of $110.75.

The Descartes Systems Group Stock Up 0.5 %

NASDAQ DSGX opened at $116.87 on Friday. The stock has a market capitalization of $9.99 billion, a P/E ratio of 78.97 and a beta of 0.97. The Descartes Systems Group has a 52-week low of $79.21 and a 52-week high of $118.49. The firm has a 50-day moving average price of $108.20 and a 200 day moving average price of $101.42.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The business had revenue of $163.43 million for the quarter, compared to analysts’ expectations of $160.17 million. The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The business’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period last year, the company posted $0.32 earnings per share. On average, equities research analysts expect that The Descartes Systems Group will post 1.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On The Descartes Systems Group

Hedge funds have recently modified their holdings of the company. Intact Investment Management Inc. purchased a new position in shares of The Descartes Systems Group during the second quarter valued at approximately $61,000. Blue Trust Inc. lifted its stake in shares of The Descartes Systems Group by 931.7% during the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock worth $63,000 after purchasing an additional 587 shares during the period. Andra AP fonden acquired a new stake in shares of The Descartes Systems Group during the second quarter worth $77,000. Park Place Capital Corp grew its position in shares of The Descartes Systems Group by 31.6% in the second quarter. Park Place Capital Corp now owns 883 shares of the technology company’s stock valued at $86,000 after purchasing an additional 212 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in The Descartes Systems Group by 143.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,194 shares of the technology company’s stock valued at $116,000 after purchasing an additional 704 shares during the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

About The Descartes Systems Group

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.